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    Property profile & analytics

    16777 Marketplace Dr Big Lake, MN 55309

    • Grocery and convenience stores
    • 3,264 SF
    • 2.24 lot acres
    For Sale
    View listing
    $1,600,000
    Last Sale
    Jul 25, 2024
    $1,289,000
    Value Estimations
    Cap Rate Potential
    3.7%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US46-0891643
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Car Wash / Car Wash
    • Atm / Atm
    • Cambo Flare / Restaurant
    • Marathon Market Place Express / Gas Station
    • Coin Cloud Bitcoin ATM / Atm / Kiosk

    Property Details for 16777 Marketplace Dr

    Year built
    2007
    Lot size
    2.24 lot acres
    Property size
    3,264 SF
    Property type
    Grocery and convenience stores
    APN
    65-555-0105
    APU
    655550105

    Description

    This exceptional multi-use business opportunity in Big Lake, Minnesota, presents a lucrative investment. Located at 16777 Marketplace Dr, this 12,538 square foot property boasts a prime location on Highway 10, ensuring high visibility and substantial foot traffic. Built in 2007 and extensively renovated in 2024, the property includes a convenience store, gas station with 20 pumps, and a restaurant, all operating under a NNN lease structure. The property sits on a 2.2-acre lot and is zoned COMMERCIAL. The building is a single-story Class B structure. A significant advantage for the buyer is the inclusion of a 10-year fuel contract with World Fuel Services. Financial vetting of the buyer is required. This turnkey operation is ideal for an owner-user seeking a well-established and profitable business with significant growth potential. The property's APN is 655550105. Serious inquiries only. Do not contact current tenants or staff.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,290,000
      ML approach
      $1,290,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Big Lake
    County
    Sherburne
    State
    Minnesota
    Longitude
    -93.6948
    Latitude
    45.333
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $25,602
    $266,600
    $862,500
    $1,129,100
    -
    $266,600
    $862,500
    $1,129,100

    Comparable in this City

    • Value Estimation
      $735,000
      4,771 SF

      281 Jefferson Blvd

      CONVENIENCE STORE • 4,771 SF
      281 Jefferson Blvd, Big Lake, MN 55309-9573
      View Details
    • Value Estimation by Request
      3,144 SF

      635 Rose Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,144 SF
      635 Rose Dr, Big Lake, MN 55309-2203
      View Details
    • Value Estimation by Request
      4,962 SF

      20455 187th NW Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,962 SF
      20455 187th NW Ave, Big Lake, MN 55309-8573
      View Details
    • Value Estimation by Request
      460 SF

      17207 198th NW Ave

      RETAIL STORES (PERSONAL SERVICES) • 460 SF
      17207 198th NW Ave, Big Lake, MN 55309-4684
      View Details
    • Value Estimation by Request
      2,725 SF

      100 Jefferson Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,725 SF
      100 Jefferson Blvd, Big Lake, MN 55309-4714
      View Details
    • Value Estimation by Request
      1,622 SF

      570 Humboldt Dr

      BARBER, HAIR SALON • 1,622 SF
      570 Humboldt Dr, Big Lake, MN 55309-4819
      View Details

    Similar Nearby for Sale

    • $1,600,000
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      Prime Big Lake Multi-Use Business

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      16777 Marketplace Dr, Big Lake, MN 55309
      View Details
    • $314,900
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    • Contact for pricing

      Commercial Land with Highway Access

      Commercial land with utilities, easy highway access, and visibility.
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    Similar Nearby for Lease

    • Contact for pricing
      1,647 SF

      Retail Space Available For Lease

      1,647 SF retail space available for lease.
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    • $13 SF/Yr
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      Retail Space with Private Entrance

      Retail space featuring individual entrances and a private restroom.
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    • $12 SF/Yr
      1,250 SF

      Big Lake Restaurant Space For Lease

      Prime location, high traffic, established center
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      View Details
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    Big Lake, MN 55309
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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